Constellation Energy : Comcast Marks Step Toward Carbon Neutral Goal with 250 MW Offsite Renewable Agreement with Constellation

Comcast Marks Step Toward Carbon Neutral Goal with 250 MW Offsite Renewable Agreement with Constellation

Comcast to reduce its carbon footprint by nearly 360,000 metric tons annually by sourcing solar energy from project developed by Scout Clean Energy

GRUNDY COUNTY, ILL. (March 31, 2022) - Constellation, the nation's leading supplier of clean energy solutions, announced today that an agreement is in place to help Comcast power approximately 12 percent of its U.S. operations with clean, renewable energy from the Blue Sky Solar Project, currently being developed by Scout Clean Energy in Grundy County, Illinois.

Backed by Comcast's commitment, Constellation has agreed to purchase power and project-specific renewable energy certificates (RECs) equal to a 250 MW share of the Blue Sky project. Comcast has signed a corresponding 15-year agreement with Constellation beginning in 2025 to receive energy and RECs from Blue Sky as part of its retail electric supply contract. The project is expected to reach commercial operation by December 2024.

"Sourcing clean, renewable energy is the top priority for meeting our goal to be carbon neutral by 2035," said Peter Kiriacoulacos, executive vice president and chief procurement officer, Comcast. "This marks the first of many major green investments that are already underway or on the immediate horizon which demonstrate our commitment to sustainable, responsible business."

By sourcing solar energy, Comcast is expected to help reduce carbon dioxide emissions associated with its energy use by nearly 360,000 metric tons each year, the equivalent of removing more than 78,000 passenger vehicles from the road in one year, according to U.S. Environmental Protection Agency estimates.

Comcast is committed to being carbon neutral by 2035 for Scope 1 and 2 emissions, or the direct and indirect emissions it owns and controls, across its global operations. With purchased electricity accounting for the majority of these emissions, sourcing renewable energy is critical to meeting this goal. For more information on Comcast's environmental efforts, visit the environment page at Comcast.com.

"We commend Comcast on its commitment to becoming carbon neutral by 2035 and are pleased that our offsite renewable solution will serve as a significant steppingstone toward attaining that goal," said Jim McHugh, chief commercial officer, Constellation. "As our nation transitions to a clean energy future, Constellation is dedicated to offering the products, services and expertise that help our customers strategically manage their energy use and reduce their carbon footprints."

Comcast will use the Constellation Offsite Renewables (CORe) retail power product, which increases businesses' access to new-build renewable energy projects by removing the significant hurdles associated with traditional offsite power purchase agreements (PPAs). With Comcast's agreement, Constellation's largest offsite renewable deal to date, the CORe product has now helped commercial customers, collectively, source more than 1,000 MWs of clean, renewable energy. Constellation worked with LevelTen Energy to identify and select Scout Clean Energy's Blue Sky Solar Project.

"We are pleased to work with Comcast and Constellation to deliver carbon-free solar energy and invest $400 million into the local community, creating new sustained jobs and tax revenue for local schools," said Michael Rucker, founder and CEO of Scout Clean Energy. "Comcast's commitment made this possible."

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About Constellation

Constellation is the nation's largest producer of carbon-free energy and the leading competitive retail supplier of power and energy products and services for homes and businesses across the United States. Headquartered in Baltimore, its generation fleet powers more than 20 million homes and businesses and is helping to accelerate the nation's transition to clean energy with more than 32,400 megawatts of capacity and annual output that is 90 percent carbon-free. Constellation has set a goal to eliminate 100 percent of its greenhouse gas emissions by leveraging innovative technology and enhancing its diverse mix of hydro, wind and solar resources paired with the nation's largest carbon-free nuclear fleet. Constellation's family of retail businesses serves approximately 2 million residential, public sector and business customers, including three-fourths of the Fortune 100. Learn more at www.constellation.com or on Twitter at @ConstellationEG. About Comcast Corporation Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on broadband, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. About Scout Clean Energy Scout Clean Energy (https://scoutcleanenergy.com/) is a renewable energy developer, owner-operator headquartered in Boulder, Colorado with over 1,200 MW of operating assets. Scout is actively developing a portfolio of over 12,000 MW of onshore wind, solar PV, and battery storage projects across 21 US states. Scout has expertise in all aspects of renewables project development, permitting, power marketing, finance, construction, 24/7 operations, and asset management. Scout is a portfolio company of Quinbrook Infrastructure Partners.

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